Formula One is a series of computer and video games, and takes its name from the popular car racing of the same name.

Jarno Trulli appears on the front cover of this edition, however some other versions have the 1998 World Champion, Mika Häkkinen, on the front cover. The British version of the front cover also has the ITV logo, the official broadcasters of F1 in the UK at the time.

Following the departure of Bizarre Creations, Psygnosis offered Reflections Interactive the chance to develop Formula 1 '98. However, they pulled out to make Driver. Visual Science were hired to make the game. As a result of this the game ended up being very poorly received by various gaming publications.